2023 ETB to MAD Historical Review

YEARLY HIGH

0.1961 MAD

YEARLY LOW

0.1750 MAD

YEARLY AVERAGE

0.1850 MAD

2023 ETB to MAD Performance & Market Timing Review

Analysis of key historical highlights and timing insights for 2023

During 2023, the ETB to MAD exchange rate experienced significant fluctuation. The market reached its absolute peak on January 3, valuing the pair at 0.1961. Conversely, the yearly low was recorded on July 16, dropping to 0.1750.

This high-to-low spread represents a total annual volatility of 0.0212 MAD. From a start-to-finish perspective, comparing the January average rate of 0.1908 to the December average rate of 0.1788, the exchange rate registered a net change of -6.27% (reflecting a weakening trend).

Looking at year-over-year peak valuations, the 2023 high of 0.1961 was down 6.80% compared to the 2022 peak of 0.2104, indicating shifts in long-term support levels.

Transfer Payout Power Comparison

Comparing the value generated converting 5,000 ETB based on timing:

Yearly Peak High 981 MAD

2022 Average 977 MAD

Yearly Trough Low 875 MAD

Transaction Impact: A difference of 105.77 MAD purely based on transaction execution date.

Trend Visualization

Monthly average fluctuations over the course of 2023.

0.1936

0.1762

JanuMarcMayJulySeptNove

ETB to MAD Seasonal Trends & Volatility Analysis

A structured review of seasonal halves, trading extremes, consecutive streaks, and historical baselines.

Seasonal Halves (H1 vs H2)

Seasonal

The average exchange rate in the first half of the year (H1: Jan–Jun) was 0.1886, compared to 0.1814 in the second half (H2: Jul–Dec). This shows that the rate was stronger in the first half (Jan–Jun) by a margin of 0.0072 points.

H1 Avg (Jan–Jun) 0.1886

H2 Avg (Jul–Dec) 0.1814

Volatility Range Comparison

Volatility

The most volatile month in 2023 was January, with a trading range of 0.0087 MAD (High: 0.1961 / Low: 0.1875). On the other end, September was the most stable month, with a tight range of 0.0029 MAD (High: 0.1868 / Low: 0.1838).

January Spread (Volatile) ±0.0087

September Spread (Stable) ±0.0029

Growth Streaks & Declines

Trends

Between January and March, the exchange rate recorded its longest consecutive growth streak of the year, climbing for 2 straight months. Conversely, the sharpest month-over-month decline occurred between June and July, when the average rate fell by 0.0065 points.

Longest Streak 2 Mo.

Sharpest MoM Drop -0.0065

Same-Month Historical Baseline

YoY Baseline

Comparing the current year's strongest month average (January 2023: 0.1908) against the same month in 2022 (average: 0.1873), the exchange rate shifted by +0.0034 (+1.84%).

2023 Avg (January) 0.1908

2022 Avg (January) 0.1873

Monthly Breakdown

Statistical summary for each calendar month.

Month	High	Low	Average
January	0.1961	0.1875	0.1908
February	0.1939	0.1893	0.1918
March	0.1944	0.1893	0.1921
April	0.1897	0.1829	0.1870
May	0.1884	0.1833	0.1859
June	0.1876	0.1809	0.1841
July	0.1813	0.1750	0.1776
August	0.1842	0.1759	0.1798
September	0.1868	0.1838	0.1853
October	0.1865	0.1830	0.1847
November	0.1850	0.1792	0.1823
December	0.1817	0.1750	0.1788